NY1: State Attorney General Updates House Panel On Foreclosure Crisis Investigation

State Attorney General Eric Schneiderman gave Congress an update on his investigation into the foreclosure crisis on Thursday.

He testified before the House of Representatives’ Progressive Caucus about holding wrongdoers in the housing crisis accountable.

Schneiderman is part of a task force of attorneys general from across the country created by President Barack Obama to investigate the causes of the mortgage meltdown that helped lead to the recession.

He told the committee the task force is not opposed to pursuing criminal prosecutions against those believed to have contributed to the mortgage crisis.

Schneiderman also said he expects to see civil settlements against some banks, which could benefit financially-troubled homeowners.

Earlier this year, a $26 billion settlement was reached against five of the nation’s largest banks.